Danske Bank A S acquired a new position in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 347,961 shares of the insurance provider's stock, valued at approximately $46,112,000. Danske Bank A S owned 0.13% of The Hartford Insurance Group as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Wealthfront Advisers LLC acquired a new position in The Hartford Insurance Group in the 2nd quarter worth $7,812,000. Foster & Motley Inc. acquired a new stake in shares of The Hartford Insurance Group in the 2nd quarter valued at about $13,953,000. Navigoe LLC bought a new stake in shares of The Hartford Insurance Group in the second quarter valued at about $27,000. Equity Investment Corp acquired a new position in shares of The Hartford Insurance Group during the second quarter worth about $75,499,000. Finally, Meeder Advisory Services Inc. acquired a new position in shares of The Hartford Insurance Group during the second quarter worth about $817,000. 93.42% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of brokerages recently issued reports on HIG. Royal Bank Of Canada lifted their target price on The Hartford Insurance Group from $145.00 to $150.00 and gave the company a "sector perform" rating in a research report on Monday, July 27th. Mizuho raised their price target on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an "outperform" rating in a research note on Thursday, July 9th. Piper Sandler reiterated a "neutral" rating and issued a $146.00 price objective (down from $148.00) on shares of The Hartford Insurance Group in a report on Wednesday, July 15th. Cantor Fitzgerald boosted their price objective on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Finally, Keefe, Bruyette & Woods increased their target price on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the stock a "market perform" rating in a report on Tuesday, July 28th. Seven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $149.67.
Read Our Latest Report on The Hartford Insurance Group
Insiders Place Their Bets
In related news, President Adin M. Tooker sold 8,895 shares of the business's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $135.13, for a total transaction of $1,201,981.35. Following the transaction, the president directly owned 38,208 shares in the company, valued at approximately $5,163,047.04. The trade was a 18.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.30% of the company's stock.
The Hartford Insurance Group Stock Performance
HIG opened at $137.83 on Thursday. The business's 50-day simple moving average is $137.25 and its 200 day simple moving average is $136.62. The Hartford Insurance Group, Inc. has a 52-week low of $120.33 and a 52-week high of $146.07. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.31 and a current ratio of 0.31. The firm has a market capitalization of $37.33 billion, a PE ratio of 8.91, a PEG ratio of 3.41 and a beta of 0.46.
The Hartford Insurance Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share for the quarter, beating analysts' consensus estimates of $3.16 by $0.26. The firm had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The business's revenue was up 8.1% compared to the same quarter last year. During the same period last year, the company earned $3.41 earnings per share. As a group, sell-side analysts expect that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current fiscal year.
The Hartford Insurance Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 1st will be paid a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.7%. The Hartford Insurance Group's dividend payout ratio (DPR) is currently 15.51%.
The Hartford Insurance Group Profile
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Free Report)
The Hartford Financial Services Group, commonly known as The Hartford, is a U.S.-based insurance and investment company that provides a broad range of commercial and personal insurance products and employee benefits. Its core businesses include property and casualty insurance for businesses and individuals, group benefits such as group life, disability and dental plans, and retirement and investment solutions offered through affiliated asset-management operations. The company also delivers risk management, claims-handling and loss-prevention services designed to support policyholders across a variety of industries.
Founded in Hartford, Connecticut, in 1810, The Hartford is one of the oldest insurance organizations in the United States and has a long history of underwriting and product development across multiple insurance lines.
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